Local Architectural Firm to Put City's HOME Initiative to the Test in East Austin

Local Architectural Firm to Put City's HOME Initiative to the Test in East Austin


Source: Cody Baird
Austin Business Journal

A local architect is set to construct three residences on a approximately 0.2-acre plot in East Austin to experiment with the recently approved HOME Initiative by the City Council. The initiative permits the construction of up to three homes on an existing single-family lot. Austin-based architecture firm Dick Clark + Associates will be overseeing the development, taking advantage of the initiative's flexibility in seeking project approval through the general residential review process instead of the more complex site plan review. This initiative aims to encourage more housing development in Austin, ultimately reducing the average home cost.

The 7,000-square-foot site on 717 Prospect Ave. will host two 1,350-square-foot residences and one 1,600-square-foot residence, featuring a three-bedroom floor plan for the larger unit and two bedrooms for the smaller ones. Each unit will have its own green space, and the corner lot configuration allows for individual driveways with unit setbacks as small as five feet in specific situations.

Currently serving as a parking and garden area, the property will undergo construction in the next six months, with no specific general contractor assigned. Rent for the units will be market rate, but the project aims to enhance affordability by dividing the land cost among the three units. The "economy of scale" will also enable cost-effective use of materials typically found in high-end single-family homes. Dick Clark Partner Kim Power highlights the initiative's potential to make the neighborhood more accessible to homebuyers seeking affordability. Additionally, the streamlined permitting process under the HOME Initiative may result in cost savings for developers. Applications for the initiative became available on February 5th.

Source from:
Baird, C. (2024). Austin Business Journal. Retrieved from https://www.bizjournals.com/austin/news/2024/02/27/east-austin-home-initiative-dick-clark-associates.html

6 Properties
$469,000
Neighborhood: Paloma Lake Sec 19B
3
Beds
2
Baths
2,053
Sq.Ft.
2012
Year Built
6
Days on Site
3162254
MLS
$2,100 / month
Neighborhood: Rainbow Parke
3
Beds
2
Baths
1,847
Sq.Ft.
2008
Year Built
6
Days on Site
5853622
MLS
$295,000
Neighborhood: Chaparral Crossing Condo Amd
3
Beds
2F11/2
Baths
1,302
Sq.Ft.
2014
Year Built
24
Days on Site
1775165
MLS
$399,999
Neighborhood: MYERS, C. SUR
1
Beds
1
Baths
924
Sq.Ft.
1963
Year Built
56
Days on Site
2377530
MLS
$1,150,000
Condo: Marina Village At Lakeway Condo
3
Beds
3
Baths
2,226
Sq.Ft.
2008
Year Built
62
Days on Site
8948415
MLS
$1,400,000
Neighborhood: Burleson, Jonathan
89.44
Acres
152
Days on Site
2145268
MLS

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